US inflation expectations fall to lowest level in 15 months

By Ovunc Kutlu

ISTANBUL (AA) - US inflation expectations declined in December to the lowest level in 15 months, according to a survey released Friday.

"Inflation expectations improved considerably but remained relatively high, falling from 4.9% to 4.6% in December, the lowest reading in 15 months, but still well above 2 years ago," according to the University of Michigan's consumer survey preliminary results.

The index of consumer sentiment rose 2.3 points to 59.1 in December, while it stood at 56.8 in November.

"Consumer sentiment rose 4% above November, recovering most of the losses from November but remaining low from a historical perspective," Surveys of Consumers Director Joanne Hsu said in a statement."

The index of current economic conditions increased 1.4 point to 60.2 in December from 68.8 in November, while the index of consumer expectations soared 2.8 points to 58.4, from 55.6, during that period.